The 4 things Leon Cooperman tells everyone who invests with him

Leon Cooperman tells potential investors that he doesn't know how much he'll earn.

The Omega Advisors CEO sat down with OneWire's Skiddy von Stade to chat about his history and how he persuades (or doesn't bother trying to persuade) new clients to invest with him.

When investors ask him how much they'll earn with him, Cooperman told von Stade, he would say this: "I don't know what I'm going to earn. But let me tell you what would make me happy, because if what makes me happy doesn't make you happy, that's the basis of a flawed relationship, and I'd rather not invest."

Then he'll outline these four points:

1. "No down years. I'm a hedge fund that can be short, I can be out of the market, so if I've got it wrong I can't be happy about that."

2. "I like to beat the S&P 500 netted fees ... as a benchmark."

3. "I don't run a leveraged portfolio. I say 10 to 12% returns after fees would make me happy."

4. "I like to have less volatility in the market."

Cooperman said he's had three to four down years in the 24 years in which he has been a manager, making a comeback each time.